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Profits Plus Solutions for Small Business
Retail Expert speakers Retail Management training seminars

 

 

  e-ret@iler newsletter
September 2007
Volume 8 Issue 10

 

Profits_Plus Solutions
Tom Shay Photo
Article of the Month

Breakfast with a Purpose

The article that we are sharing with you this month comes from the experiences in our store. It explains how we found a technique for getting our team of lead employees working toward the same goals.Click on Article of the Month to view and read this article.

 

Book of the Month

Competing with
the retail giants
by Kenneth E. Stone

Stone has spoken at many conferences and trade shows over the years explaining his strategy for small businesses. Here's the book with our recommendation.

Have you seen how we have rearranged the book referral list? In addition to alphabetical, books are now listed according to topic. Thanks to the gentleman at a recent trade show for this suggestion.

We have more books to suggest for your reading. Click on Book Referral to visit this page on our site.

e-ret@iler Conversations

Conversations

Visit our e-ret@iler conversations, find the category of interest and post your comments, questions or best practices. You may also go directly to one of our categories by clicking on one of the links below.

  1. Advertising
  2. Employee Issues
  3. Financial Management
  4. General Discussion
  5. Merchandising
  6. Sales Techniques
  7. Vendor Issues

 

Contact Us


Profits Plus
P.O. Box 1577
St. Petersburg, FL
33731 USA
(727) 464-2182 Voice
(727) 898-3179 Fax

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Send our staff an e-mail:


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Business Advisory

For only $1.00

Here is a first hand experience; it is fun to learn from a professional. Walking into a jewelry store, I had a small piece of jewelry that needed repair. It was a family business with the two sons in their mid 50's working the floor and their dad working the bench.

One of the sons directed me to dad who looked at the broken piece and asked for 15 minutes to perform the repair. (Notice that by asking for 15 minutes, he is asking me to spend those minutes wandering around their store)

The repair was done in less than 15 minutes and I asked for the bill. In reality, while he spent only a few minutes and installed a sterling silver ring that should be sold for a couple of dollars, he was entitled to a fair amount for his time and knowledge. He asked for nothing. I responded by saying that he could not work for free.

His answer? "I am buying a customer for only one dollar. It is the best investment I can make today."

I love watching a master in action.

Internet Tip of The Month
Cashflow calculator

Without question, this is not only my favorite items to discuss but it is one of the most important things in a business - projecting your anticipated cashflow needs. Perhaps you have attended one of the classes I have given on this topic. Or, you may have listened to the free seminar you can download from our website.

Here is the tool on our website that will allow you to do a sampling of 60 days of your business needs. Take a look and you will see that this can be one of the most important decisions you can make.

Casflow Projection Calculator

The Power Promoting Idea of the Month

Solicit your customer's advice

So, how often does someone knock on your door and ask you to make a donation to their favorite charity? Probably, too often. Let's solve that challenge with two steps. The first is to establish a monthly budget for these non-traditional advertising items. Perhaps your monthly budget would be $75. You start with $75 in the account on the first day of the month and when you have donated $75, you are through for the month. Any further requests for donations that month? You explain that these subsequent requests need to come after the first day of the following month.

Step number two. Be proactive and instead of letting people ask you for money, ask your customers to suggest which charities you should donate to. Doing it with a suggestion box in your busines should work. Top it off by giving the gift in the name of the customer that nominated that charity.

Now, you have the recipe for a real winner.

This idea is #13 from the red Profits Plus Ideas book. You can order your copy by clicking on the link below.

Profits Plus Resource Center

Where's Tom?

Fall is in the air. Well, at least it is in several parts of North America. And it is beautiful to look at. I am looking forward to seeing more of it as I travel over the next couple of months. Here is the current schedule for October and November.

October 2 Denver, CO
October 3 Salt Lake City, UT
October 4-8 Mexico
October 15 Vancouver, BC
October 17 Portland, OR
October 18-19 Las Vegas, NV
October 20 Los Angeles, CA
October 29 Mason, OH
October 31 Las Vegas, NV
November 1 Las Vegas, NV
November 2 Orlando, FL
November 7 Anaheim, CA
November 8 Seattle, WA
November 16 Las Vegas, NV

Copyright Notice

Profits Plus Solutions, Inc.
PO Box 1577
St. Petersburg, Fl 33731
(727) 464-2182
Fax: (727) 898-3179